Australia's Morrison hikes Covid-19 stimulus to 10% of GDP, orders partial lockdown



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Australia's Morrison hikes Covid-19 stimulus to 10% of GDP, orders partial lockdown

Earlier on Sunday, the 22nd of March 2020, the Australian Prime Minister Scott Morison had pledged an additional $38.50 billion or A$66.40 billion in aid to battle past the consequential repercussions of coronavirus pandemic which had killed 1,604 people across the world over the past 24 hours and 30,413 newer coronavirus cases were diagnosed, while in a bid to slow down the spread of the virus, the Australian Government had also ordered a partial lockdown of the country, though many industry analysts were quoted saying that the Australian Government’s responses to the pandemic were delayed and could result in an havoc-scale catastrophe likes of a number of European countries and the United States, which had also downplayed the grievous outcome of the pandemic initially.

Besides, as Australia had ordered its pubs, churches, casinos and cinemas to undergo an entire lockdown for an indefinite period of time and two more Aussie states had closed down their borders to slow down the spread of the pathogen, Australia alongside its neighbouring New Zealand had reported 281 and 14 newer coronavirus cases respectively over the past 24 hours, while the Aussies had 1,258 active coronavirus cases as of Sunday (March 22nd) night and the nation had yet to experience a death due to the Covid-19 infection according to Australian health officials.

However, adding that the new monetary stimulus of $38.50 billion, the second in a week following a $10.20 billion announced earlier, would help the Australian individuals alongside small- and medium-scale businesses which employ roughly 40 per cent of Australia’s entire workforce and contribute a third of the nation’s entire GDP, the Australian Prime Minister Scott Morison said in Canberra earlier on Sunday (March 22nd), “We will be focusing on those in the front line, those who will be feeling the first blows of the economic impact of the coronavirus. There will be more packages and more support. ”